The advent of Cable transmission has opened up an extensive network of pay-per-selection markets to the consumer. A complete array of visual and audio entertainments from movies to live and pre-recorded concerts and sporting events can now be brought directly into the consumer's home. Additionally, the cable viewer has access to a variety of goods and services via several shopping channels.
Presently, the home market is restricted by the amount of time required to complete a pay-per-selection transaction. If an individual desires to purchase a good or a service, he or she must first contact the system operator, place the order, and then provide the operator with credit card information. The operator, in turn, must then contact the consumer's financial institution to verify the billing information provided by the consumer. Once the system operator has been assured of receiving payment for the desired goods or services, then the consumer can receive the chosen goods or services. Due to the interaction between the consumer and the operator, efficiency of the system would be degraded and a resulting built-in capacity would limit the number of transactions.
Alternatively, the operator can merely collect billing information and process it in a batch method at selected intervals. Although this method is faster than clearing each transaction individually, the operator will be exposed to a certain number of uncollectible transactions.
Accordingly, there exists a need for a transactional processing system which would allow for efficient, real-time authorization of consumer transaction for a wide variety of services and products.